With China's per-capita GDP rising to $10,400 in 2019 and the US government doing its utmost to harass and contain China's progress, Beijing is to reorient its economic policies by developing its domestic market, while enhancing trade and economic partnership with friendly countries and regions.
Right after Indian troops once again illegally crossed the Line of Actual Control, New Delhi on Wednesday imposed a new ban on a swath of Chinese apps, showing reckless intention to further decouple with China economically. The move is a double-edged sword which will cause losses to both China and India, while offering a perfect opportunity for the US to take over the market.
As analysts forecast the currency to continue its slide, its potential impact on Chinese export companies should be carefully assessed.
The US hasn't ever stopped its efforts to push countries and regions in Southeast Asia to join its anti-China clique, which is not simple or achievable as China and Southeast Asian countries maintain cooperative ties way deeper and wider than their disagreements.
India's economy tanked from April to June by a whopping 23.9 percent, recording the steepest contraction among the world's G20 countries, reflecting years of uneven development and the country's fragile economic structure that melted down instantly under the impact of the COVID-19 onslaught.
China's Ministry of Commerce and the Ministry of Science and Technology released the revised catalogue of technologies that are subject to export bans or restrictions on Friday. In Section 15 of Part II dealing with computer service industry, "personalized information push service technology based on data analysis" has been added to items subject to export restrictions.
After months of large-scale lockdowns in India, the world's fifth-largest economy has witnessed its largest contraction on record. With the COVID-19 pandemic still sweeping the world, countries and regions may slow their overseas investment and further dim India's economic prospects in the second half of the year.
The US is reportedly set to increase investment in high-end 6G technology, so as to surpass the advantages China's Huawei has built in the 5G field. According to an article, the economic and military applications of 6G technology are even more revolutionary. The US Department of Defense may also pay attention to the fact that competition among countries in the 6G industry will become more intense in the future.
India on Monday reported its sharpest GDP contraction on record, as the economy shrank 23.9 percent in the second quarter. With the looming prospect that it may even take over the US as the global pandemic center, the Indian economy may sink deeper into the mire in the second half of the year.
There are few signs that Australia intends to stop provoking China, or to attempt to ease escalating tensions. Instead, its insistence on continuing along the US' lose-lose path toward decoupling will undoubtedly cause huge damage to its already severely injured economy.
Chinese experts noted that the adjustment has long been expected, and is simply in line with China's agenda to protect intellectual property and enhance its national security.
Facing a multitude of intensifying crises, the current US government isn't looking for solutions to dissolve its difficulties, choosing instead to escalate economic and political tensions with China, as if all the problems embroiling America could be fixed by playing the "China-Bashing" card. The paranoid is getting thicker.
Since the outbreak of COVID-19, China's face mask production capacity has rapidly transitioned from being in short supply to relative over-capacity. As demand has saturate, a number of factories are facing the risk of having to shut down.
Australia saw robust exports to China in the first half of the year, showing its increased dependency on the Chinese market, but it then recorded a 17 percent decline in exports to China in July, with metalliferous ores exports falling 12 percent from the level in June.
US-traded Chinese firms will either opt for a dual listing, or delist from the US and come back to their home markets as a result of an unfortunate trend gripping the US in which a clearly defined framework is still not in place for foreign companies to operate.
China has set a goal of producing 70 percent of the semiconductors it uses by 2025, and unveiled a slew of policies to help boost the domestic semiconductor industry. Skeptics have nevertheless called the goal into question due to China's current, relatively low self-sufficiency ratio. It is indeed a challenging target, which I would have found unrealistic ten years ago ?- but now I'm fairly confident it is doable.
Owing to fears that the COVID-19 pandemic may lead to a contracted global economic crisis, countries and regions have entered a phase to solidify cooperation after months of fighting the virus separately.
In recent months, India has seen its trade deficit with China fall and then bounce back, demonstrating that any manufactured reduction in the trade deficit based on protectionism simply isn't sustainable, despite being the result Indian authorities are longing for.